Go to Jeff Salisbury LWGate Home Page.From: "Edward McDonough" <emcdonough@rjfs.com>
Subject: RE: [CANSLIM] Intro: Jeffrey Gasta
Date: Fri, 26 Jul 2002 15:39:08 -0400
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Jeffrey,
Sorry for my skepticism as I'm sure Mr. O'Neil derives great pleasure
from helping people make money using his CANSLIM principles, but don't
be misled into thinking he is doing it out of the goodness of his heart.
Mr. O'Neil at his most basic level is a salesman. He has something to
sell: his methodology, his newspaper, his web services for both
individuals and institutions. What better way than to have products to
sell to people that follow his very own CANSLIM Method. Pretty cool.
He sells you the gas that makes the car run and he even sells you the
car. Pretty neat, and highly profitable for Mr. O'Neil. Also,
profitable for the investor that follows it, if the investor doesn't
crash the car while following his principals. Don't get me wrong, I have
benefited from his knowledge and information. But individual's
performance in using CANSLIM will vary widely.
I don't doubt for a moment the AAII study results. But studies can be
used to demonstrate all sorts of things. Be aware of one thing. The
returns you personally derive from CANSLIM can vary widely from the
numbers presented in the AAII study.
For example, there are several studies that demonstrate the difference
in return between what mutual funds show as performance and what
individual investors actually receive. In other words, what the average
investor derives in terms of return can vary greatly from what the
mutual fund shows as performance because the average holding period of a
mutual fund for an average investor is not buy and hold forever. Mutual
fund investors typically buy and sell at some point. The moving parts
for a mutual fund investor are few, buy or sell. The moving parts for a
canslim investor are many: buy,sell,C,A,N,S,L,I,M. Consequently more
room for error and therefore even more widely varying results.
Best of Luck!!
Call me crazy,
ED
- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com] On Behalf Of Katherine Malm
Sent: Friday, July 26, 2002 2:20 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] Intro: Jeffrey Gasta
Hi Jeffrey,
First of all, thanks for that great intro and welcome to the list.
I'll take a stab at your question (1) as this is something that comes up
often when people talk generally about CANSLIM. I think it's refreshing
that O'Neil (WON) has never found the need to tout specific returns to
inform others of the benefits of CANSLIM investing. There are as many
ways to pull profits from the markets as there are people in China, but
if you were to boil any one system down to its essence, the successful
methodologies all have two things in common: MASTERY and DISCIPLINE in
applying the methodology. How many times have you seen your friends flit
from one investment "guru" to the next or one "investing system" to the
next? I see it happen constantly....somehow it's easier to blame losses
on "the system" than on themselves, so off they go to find another holy
grail. CANSLIM has its place in investing. It's based on sound and
time-proven investing principles, it has a specific set of rules, and it
works. Why would O'Neil tell people how to do it? Because his profits in
trading this discipline are not compromised by the success of others. He
can afford to mentor and develop good investors/traders and profit from
it, because he knows that it is not CANSLIM itself that creates
investing profits for those he mentors, it is the successful application
of CANSLIM principles as applied by knowledgeable users. I think of it
as the principle of abundance. Imagine if you were to have a child and
in order to love another child, you had to decrease your love for the
first by half. It just doesn't work that way. There are plenty of
profits in the market, and thank goodness there are people like WON who
are willing to teach the rest of us how to find and *keep* them.
OK, now that I've had my weekly rant....I'll post (separately) a study
done by AAII that shows profits from various investment strategies. This
was done for the year 2001...remember *that* year? Take a look at the
45% returns for CANSLIM. Pretty hard to sneeze at that.
Katherine
- ----- Original Message -----
From: Gasta, <mailto:Jeff.Gasta@marriott.com> Jeffrey
To: 'canslim@lists.xmission.com'
Cc: Gasta, <mailto:Jeff.Gasta@marriott.com> Jeffrey
Sent: Friday, July 26, 2002 12:32 PM
Subject: [CANSLIM] Intro: Jeffrey Gasta
Hello,
Thank you for providing this group. It is so cool to find independent,
non-biased sources of information. The net is great for that.
Aside from funding my 401K with mutual funds, I'm new to investing. My
brother-in-law is a mortgage banker and he did VERY well in the 90s by
investing. After years of asking he finally told me that he is now
using
the CANSLIM method (although he did well before he adopted this). Also,
he
won't have a dialog with him on this - in-laws are weird sometimes. For
the
past two months I've been reading IBD, IBD.com, and two of Mr. O'Neil's
books. During the past year I have read two of John Bogle's books, read
the
financial section in the Washington Post weekly and watched the market
with
increasing interest. I live in the DC metro area and am 39 years old.
My degree is in Applied Mathematics and I perform technical work daily
as a
telecom. engineer. I have no background in finance or investing.
However,
I do have strong analytical skills and like working in an environment
with
rules/guidelines. Incidentally, in the book "The Millionaire Next Door"
the
authors point out that Engineers tend to do well with investing because
of
their belief in and adherence to rules/laws.
Will try to lurk for a while before posting any messages. I do have a
couple starter questions if that doesn't offend the group. If these
questions shouldn't be asked yet, or they are answered in the archive,
please let me know.
1) The success stories Mr. O'Neil mentions are incredible. But he
doesn't
mention how his overall portfolio (including losses) has done over the
years. Can anyone give me guidance on independent studies and/or
personal
experience with this system? For example, a 5-year total return of 15%
on
the entire portfolio that also includes the 8% loses. Also if CANSLIM
is so
profitable, why is Mr. O'Neil spending lots of his time writing books
and
giving seminars? It makes me wonder where his wealth is really coming
from.
2) I have found several "ride-the-coattails" web sites for CANSLIM. A
quick survey of these sites seem to show that they simply regurgitate
the
info. already provided by IBD and thus are not worth the price. Any
thoughts on these sites would be appreciated.
3) Does Daily Graphs Online really provide added value for a beginner
like
me? After viewing their tutorial I can't figure out what they provide
beyond standard IBD membership.
Many thanks for your time!
Jeffrey Gasta
Telecommunications Engineering
Marriott International
Voice: 301.380.6204
Fax: 301.380.8649
jeff.gasta@marriott.com
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<body bgcolor=3Dwhite lang=3DEN-US link=3Dblue vlink=3Dblue =
style=3D'tab-interval:.5in'>
<div class=3DSection1>
<p class=3DMsoNormal><font size=3D3 color=3Dblack face=3D"Times New =
Roman"><span
style=3D'font-size:12.0pt;color:black'>Jeffrey,<o:p></o:p></span></font><=
/p>
<p class=3DMsoNormal><font size=3D3 color=3Dblack face=3D"Times New =
Roman"><span
style=3D'font-size:12.0pt;color:black'><o:p> </o:p></span></font></p=
>
<p class=3DMsoNormal><font size=3D3 color=3Dblack face=3D"Times New =
Roman"><span
style=3D'font-size:12.0pt;color:black'>Sorry for my skepticism as =
I’m sure
Mr. O’Neil derives great pleasure from helping people make money =
using
his CANSLIM principles, but don’t be misled into thinking he is =
doing it
out of the goodness of his heart.<span style=3D'mso-spacerun:yes'> =
</span><o:p></o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 color=3Dblack face=3D"Times New =
Roman"><span
style=3D'font-size:12.0pt;color:black'><o:p> </o:p></span></font></p=
>
<p class=3DMsoNormal><font size=3D3 color=3Dblack face=3D"Times New =
Roman"><span
style=3D'font-size:12.0pt;color:black'>Mr. O’Neil at his most =
basic level
is a salesman.<span style=3D'mso-spacerun:yes'> </span>He has =
something to
sell: his methodology, his newspaper, <span class=3DGramE>his</span> web =
services
for both individuals and institutions. What better <span =
class=3DGramE>way than
to have products to sell to people that follow</span> his very own =
CANSLIM
Method. <span class=3DGramE>Pretty =
cool.</span><o:p></o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 color=3Dblack face=3D"Times New =
Roman"><span
style=3D'font-size:12.0pt;color:black'><o:p> </o:p></span></font></p=
>
<p class=3DMsoNormal><font size=3D3 color=3Dblack face=3D"Times New =
Roman"><span
style=3D'font-size:12.0pt;color:black'>He sells you the gas that makes =
the car
run and he even sells you the car. <span class=3DGramE>Pretty neat, and =
highly
profitable for Mr. O’Neil.</span><span =
style=3D'mso-spacerun:yes'>
</span>Also, profitable for the investor that follows it, if the =
investor doesn’t
crash the car while following his principals. Don’t get me wrong, =
I have
benefited from his knowledge and information. But individual’s
performance in using CANSLIM will vary widely.<span
style=3D'mso-spacerun:yes'> </span><o:p></o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 color=3Dblack face=3D"Times New =
Roman"><span
style=3D'font-size:12.0pt;color:black'><o:p> </o:p></span></font></p=
>
<p class=3DMsoNormal><font size=3D3 color=3Dblack face=3D"Times New =
Roman"><span
style=3D'font-size:12.0pt;color:black'>I don’t doubt for a moment =
the AAII
study results. But studies can be used to demonstrate all sorts of =
things. Be
aware of one thing. The returns you personally derive from CANSLIM can =
vary
widely from the numbers presented in the AAII study. =
<o:p></o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 color=3Dblack face=3D"Times New =
Roman"><span
style=3D'font-size:12.0pt;color:black'><o:p> </o:p></span></font></p=
>
<p class=3DMsoNormal><font size=3D3 color=3Dblack face=3D"Times New =
Roman"><span
style=3D'font-size:12.0pt;color:black'>For example, there are several =
studies
that demonstrate the difference in return between what mutual funds show =
as
performance and what individual investors actually receive. In other =
words, what
the average investor derives in terms of return can vary greatly from =
what the
mutual fund shows as performance because the average holding period of a =
mutual
fund for an average investor is not <span class=3DGramE>buy</span> and =
hold
forever. Mutual fund investors typically buy and sell at some point. The =
moving
parts for a mutual fund investor are few, buy or sell.<span
style=3D'mso-spacerun:yes'> </span>The moving parts for a <span
class=3DSpellE>canslim</span> investor are many: <span =
class=3DSpellE>buy<span
class=3DGramE>,sell,C,A,N,S,L,I,M</span></span>.<span
style=3D'mso-spacerun:yes'> </span>Consequently more room for =
error and
therefore even more widely varying results.<o:p></o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 color=3Dblack face=3D"Times New =
Roman"><span
style=3D'font-size:12.0pt;color:black'><o:p> </o:p></span></font></p=
>
<p class=3DMsoNormal><font size=3D3 color=3Dblack face=3D"Times New =
Roman"><span
style=3D'font-size:12.0pt;color:black'>Best of =
Luck!!<o:p></o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 color=3Dblack face=3D"Times New =
Roman"><span
style=3D'font-size:12.0pt;color:black'><o:p> </o:p></span></font></p=
>
<p class=3DMsoNormal><font size=3D3 color=3Dblack face=3D"Times New =
Roman"><span
style=3D'font-size:12.0pt;color:black'>Call me =
crazy,<o:p></o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 color=3Dblack face=3D"Times New =
Roman"><span
style=3D'font-size:12.0pt;color:black'>ED<span =
style=3D'mso-spacerun:yes'>
</span><span style=3D'mso-spacerun:yes'> </span><span
style=3D'mso-spacerun:yes'> </span><span
style=3D'mso-spacerun:yes'> </span><o:p></o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 color=3Dblack face=3D"Times New =
Roman"><span
style=3D'font-size:12.0pt;color:black'><o:p> </o:p></span></font></p=
>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D2 =
face=3DTahoma><span
style=3D'font-size:10.0pt;font-family:Tahoma'>-----Original =
Message-----<br>
<b><span style=3D'font-weight:bold'>From:</span></b>
owner-canslim@lists.xmission.com =
[mailto:owner-canslim@lists.xmission.com] <b><span
style=3D'font-weight:bold'>On Behalf Of </span></b>Katherine Malm<br>
<b><span style=3D'font-weight:bold'>Sent:</span></b> Friday, July 26, =
2002 2:20
PM<br>
<b><span style=3D'font-weight:bold'>To:</span></b> =
canslim@lists.xmission.com<br>
<b><span style=3D'font-weight:bold'>Subject:</span></b> Re: [CANSLIM] =
Intro:
Jeffrey Gasta</span></font></p>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Times New Roman"><span
style=3D'font-size:12.0pt'><o:p> </o:p></span></font></p>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Times New Roman"><span
style=3D'font-size:12.0pt'>Hi Jeffrey,<o:p></o:p></span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Times New Roman"><span
style=3D'font-size:12.0pt'> <o:p></o:p></span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Times New Roman"><span
style=3D'font-size:12.0pt'>First of all, thanks for that great intro and =
welcome
to the list. <o:p></o:p></span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Times New Roman"><span
style=3D'font-size:12.0pt'> <o:p></o:p></span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Times New Roman"><span
style=3D'font-size:12.0pt'>I'll take a stab at your question (1) as this =
is
something that comes up often when people talk generally about CANSLIM. =
I think
it's refreshing that O'Neil (WON) has never found the need to tout
specific returns to inform others of the benefits of CANSLIM =
investing.
There are as many ways to pull profits from the markets as there are =
people in
China, but if you were to boil any one system down to its essence, the =
successful
methodologies all have two things in common: MASTERY and DISCIPLINE in =
applying
the methodology. How many times have you seen your friends flit from one
investment "guru" to the next or one "investing =
system" to
the next? I see it happen constantly....somehow it's easier to blame =
losses on
"the system" than on themselves, so off they go to find =
another holy
grail. CANSLIM has its place in investing. It's based on sound and =
time-proven
investing principles, it has a specific set of rules, and it works. Why =
would
O'Neil tell people how to do it? Because his profits in trading this =
discipline
are not compromised by the success of others. He can afford to mentor =
and
develop good investors/traders and profit from it, because he knows that =
it is
not CANSLIM itself that creates investing profits for those he mentors, =
it is
the successful application of CANSLIM principles as applied by =
knowledgeable
users. I think of it as the principle of abundance. Imagine if you were =
to have
a child and in order to love another child, you had to decrease your =
love for
the first by half. It just doesn't work that way. There are plenty of =
profits
in the market, and thank goodness there are people like WON who are =
willing to
teach the rest of us how to find and *keep* =
them.<o:p></o:p></span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Times New Roman"><span
style=3D'font-size:12.0pt'> <o:p></o:p></span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Times New Roman"><span
style=3D'font-size:12.0pt'>OK, now that I've had my weekly rant....I'll =
post
(separately) a study done by AAII that shows profits from various
investment strategies. This was done for the year 2001...remember *that* =
year?
Take a look at the 45% returns for CANSLIM. Pretty hard to sneeze at =
that.<o:p></o:p></span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Times New Roman"><span
style=3D'font-size:12.0pt'> <o:p></o:p></span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Times New Roman"><span
style=3D'font-size:12.0pt'>Katherine<o:p></o:p></span></font></p>
</div>
<blockquote style=3D'border:none;border-left:solid black =
1.5pt;padding:0in 0in 0in 4.0pt;
margin-left:3.75pt;margin-top:5.0pt;margin-right:0in;margin-bottom:5.0pt'=
>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D2 =
face=3DArial><span
style=3D'font-size:10.0pt;font-family:Arial'>----- Original Message =
- ----- <o:p></o:p></span></font></p>
</div>
<div style=3D'font-color:black'>
<p class=3DMsoNormal =
style=3D'margin-left:.5in;background:#E4E4E4'><b><font size=3D2
face=3DArial><span =
style=3D'font-size:10.0pt;font-family:Arial;font-weight:bold'>From:</span=
></font></b><font
size=3D2 face=3DArial><span =
style=3D'font-size:10.0pt;font-family:Arial'> <a
href=3D"mailto:Jeff.Gasta@marriott.com" =
title=3D"Jeff.Gasta@marriott.com">Gasta,
Jeffrey</a> <o:p></o:p></span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><b><font size=3D2 =
face=3DArial><span
style=3D'font-size:10.0pt;font-family:Arial;font-weight:bold'>To:</span><=
/font></b><font
size=3D2 face=3DArial><span =
style=3D'font-size:10.0pt;font-family:Arial'> <a
href=3D"mailto:'canslim@lists.xmission.com'" =
title=3D"canslim@lists.xmission.com">'canslim@lists.xmission.com'</a>
<o:p></o:p></span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><b><font size=3D2 =
face=3DArial><span
style=3D'font-size:10.0pt;font-family:Arial;font-weight:bold'>Cc:</span><=
/font></b><font
size=3D2 face=3DArial><span =
style=3D'font-size:10.0pt;font-family:Arial'> <a
href=3D"mailto:Jeff.Gasta@marriott.com" =
title=3D"Jeff.Gasta@marriott.com">Gasta,
Jeffrey</a> <o:p></o:p></span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><b><font size=3D2 =
face=3DArial><span
style=3D'font-size:10.0pt;font-family:Arial;font-weight:bold'>Sent:</span=
></font></b><font
size=3D2 face=3DArial><span =
style=3D'font-size:10.0pt;font-family:Arial'> Friday,
July 26, 2002 12:32 PM<o:p></o:p></span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><b><font size=3D2 =
face=3DArial><span
style=3D'font-size:10.0pt;font-family:Arial;font-weight:bold'>Subject:</s=
pan></font></b><font
size=3D2 face=3DArial><span =
style=3D'font-size:10.0pt;font-family:Arial'> [CANSLIM]
Intro: Jeffrey Gasta<o:p></o:p></span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Times New Roman"><span
style=3D'font-size:12.0pt'><o:p> </o:p></span></font></p>
</div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Times New Roman"><span
style=3D'font-size:12.0pt'>Hello,<br>
<br>
Thank you for providing this group. It is so cool to find =
independent,<br>
non-biased sources of information. The net is great for that.<br>
<br>
Aside from funding my 401K with mutual funds, I'm new to =
investing.
My<br>
brother-in-law is a mortgage banker and he did VERY well in the 90s =
by<br>
investing. After years of asking he finally told me that he is now =
using<br>
the CANSLIM method (although he did well before he adopted this). =
Also,
he<br>
won't have a dialog with him on this - in-laws are weird =
sometimes. For
the<br>
past two months I've been reading IBD, IBD.com, and two of Mr. =
O'Neil's<br>
books. During the past year I have read two of John Bogle's books, =
read
the<br>
financial section in the Washington Post weekly and watched the market =
with<br>
increasing interest. I live in the DC metro area and am 39 years
old. <br>
<br>
My degree is in Applied Mathematics and I perform technical work daily =
as a<br>
telecom. engineer. I have no background in finance or =
investing.
However,<br>
I do have strong analytical skills and like working in an environment =
with<br>
rules/guidelines. Incidentally, in the book "The Millionaire =
Next
Door" the<br>
authors point out that Engineers tend to do well with investing because =
of<br>
their belief in and adherence to rules/laws.<br>
<br>
Will try to lurk for a while before posting any messages. I do =
have a<br>
couple starter questions if that doesn't offend the group. If =
these<br>
questions shouldn't be asked yet, or they are answered in the =
archive,<br>
please let me know.<br>
<br>
1) The success stories Mr. O'Neil mentions are incredible. =
But he
doesn't<br>
mention how his overall portfolio (including losses) has done over =
the<br>
years. Can anyone give me guidance on independent studies and/or =
personal<br>
experience with this system? For example, a 5-year total return of =
15% on<br>
the entire portfolio that also includes the 8% loses. Also if =
CANSLIM is
so<br>
profitable, why is Mr. O'Neil spending lots of his time writing books =
and<br>
giving seminars? It makes me wonder where his wealth is really =
coming
from.<br>
<br>
2) I have found several "ride-the-coattails" web sites =
for
CANSLIM. A<br>
quick survey of these sites seem to show that they simply regurgitate =
the<br>
info. already provided by IBD and thus are not worth the price. =
Any<br>
thoughts on these sites would be appreciated.<br>
<br>
3) Does Daily Graphs Online really provide added value for a =
beginner
like<br>
me? After viewing their tutorial I can't figure out what =
they
provide<br>
beyond standard IBD membership.<br>
<br>
Many thanks for your time!<br>
<br>
Jeffrey Gasta<br>
Telecommunications Engineering<br>
Marriott International<br>
Voice: 301.380.6204<br>
Fax: 301.380.8649<br>
<a =
href=3D"mailto:jeff.gasta@marriott.com">jeff.gasta@marriott.com</a><br>
<br>
<br>
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